We are looking at Gold this afternoon which is looking setup for a move back towards 1440 area with multiple support levels coming into play.
As we have highlighted with our trading view chart we have two strands of an ascending support line from the 17th which has been tested on 3 occasions leading to higher lows pattern being formed. Off...
for me its no clear signal at dx. we have gap at 96.7-8 and really nice range (purple zone) so posible another wave down to fill the gap and then will see if want continue more down to bottom of bigger channel or way up to range from cup and handle.
Price has broken a third touch of a daily ascending channel with very corrective price action.
The hourly ascending channel third touch (pattern within a pattern) also aligns with the daily third touch.
I am seeing if the market gives us an entry such as a double top or a hover (bear flag) along the bottom of a channel.
Ideal entry will be 20-25 pips.
Symbol: Bitcoin , BTCUSD , XBTUSD
Context: Descending Channel
Indicator: 9 Seasons Rainbow Multiple Time Frames Pattern
Charting Timeframe: 15m - 11H
Green->Red on 15m-30m + Yellow on 1H - 2H + Green Context
Yellow -> Red on 15m--1H + Red or Yellow Context
Green -> Red on 15m - 1H + Red or Yellow Context
Zone near upper border of the...
BNB right now is struggling against the 200 moving average which is shown on the hourly timeframe. I believe that very soon it will crash down out of the channel and bounce off the 50 moving average (shown by the orange arrow). This will result in a fast move back up through and beyond the channel towards my first target of $50.
DAY TRADE - EXPIRES AT 9PM UK
Trading within a Bearish Channel formation.
A break of bespoke support at 1.2341, and the move lower is already underway.
Bespoke resistance is located at 1.2387.
The bias remains mildly bullish but there is scope for a move in either direction at the open.
Further downside is expected although we prefer to set shorts at...
On usdcad weekly, I see price break out of an ascending channel very cleanly while forming a daily support trendline which was supported by a falling wedge in the 4hr chart.
Price broke out of the falling wedge which is now shown the 15 min chart.
Trading within a Bullish Channel formation.
Bespoke support is located at 12330.
Positive overnight flows lead to an expectation of a firm open this morning.
Further upside is expected although we prefer to buy into dips close to the 12330 level.
We look to Buy at 12330
Target 1: 12570
Target 2: 12700
FX:GBPCHF, OANDA:GBPCHF, FOREXCOM:GBPCHF, SAXO:GBPCHF
A higher correction is expected.
Broken out of the channel formation to the upside.
The gap open from 1.2406 to 1.2414 has now been closed.
The bias remains mildly bearish but there is scope for a move in either direction at the open.
Although the anticipated move higher is corrective, it does...
Entry @ 0.69679
Second entry @0.69508 (sell stop)
SL @ 0.69912
TP1 @ 0.67814.
Following downtrend on W1 and found support at .382 suggesting market will retrace to .71 entry as measured moves are an exact fit. Fib timezone places entry around 14:00 on 26/06 and TP will hit around 02:00 on 05/07 so trade will be held for around 10 days. Entry at .71...
FX:USDCHF, FX:GBPCHF, FX:EURCHF, FX:CHFJPY
Geo-political tensions support CHF pairs.
Here is our latest analysis on the short term outlook of CHF pairs.
The franc continued to gain support during Thursday despite net gains in global equity markets.
Expectations of dovish policies from the Federal Reserve and ECB were important in underpinning the Swiss...
BULLISH DIVERGENCE FORMED on the daily chart which pushed the market upwards, trade currently in 190+ pips profit. I see a retest of daily trend line resistance which would suggest a continuation of bulls in CADJPY- LONG TERM TRADE.
After constant testing of support level 1.256 we can see price finally breaking lower whilst still fitting within this downward channel pattern which should lead this pair to the major bottom level 1.24250. If so, this should give one last impulse within the channel pattern before any wave theory reversals can be put intact. Waiting for a retest of this...